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Visa Inc. (NYSE:V) shares gained 1.27% in Wednesday's session, closing at $223.17.
Visa Technical Levels To Watch: In the short-term, 15-minute chart above, the price level of $220 can be seen as a potential key level.
The level previously acted as a resistance on the chart. The stock was able to break above this level and is now trying to consolidate.
Bullish technical traders may be able to see a bull flag pattern on the chart forming. The pattern comes as consolidation after a run to the bullish side.
The price would have to break above the level of resistance formed by the previous few highs for the pattern to work in favor of the bulls.
Bearish technical traders might be able to see a flat bottom pennant pattern. For this to work in favor of the bears, they would need the price to cross below the $220 level with some consolidation before the price potentially falls further.
The daily chart above shows that the Visa stock price has been trading in a channel throughout the last year.
The channel has held support near $190 and has held a resistance near $220.
Bulls would like to see the price cross the $220 level with consolidation before the next move up may happen.
Bears would like to see the price drop through this $190 level with some consolidation before the price has potential to drop further.
Visa is trading with a market cap of $476.98 billion.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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